Summary of the Financial Statements for the Fiscal Year Ending March 2004
(In accordance with the JBIC Law)

Japan Bank for International Cooperation

Pursuant to Article 40 of the Japan Bank for International Cooperation Law (“JBIC Law”), Japan Bank forInternational Cooperation (“the Bank”) prepared its financial statements for the fiscal year 2003 (April 1, 2003 March 31, 2004) and published them in an official gazette on June 30, 2004. The highlights of the financial
statements are shown below. The financial statements were prepared in accordance with JBIC Law, theregulations thereunder and the accounting principles for special public corporations (Report dated October 2,
1987 from the Sub-Committee on the Accounting Practices for Public Corporations under the Fiscal SystemCouncil).

1. Overview
The Bank posted a profit of 75.4 billion yen from the International Financial Account (decreased 14.9
billion yen from the previous term), a profit of 64.8 billion yen from the Overseas Economic Cooperation
Account (increased 324.9 billion yen from the previous term), and a total profit of 140.2 billion yen (increased339.7 billion yen) in FY 2003.
As of the end of FY 2003, the International Financial Account had total assets of 10,143.4 billion yen(decreased 556.6 billion yen compared with the previous year), total liabilities of 8,444 billion yen (decreased601.7 billion yen), and total capital and reserves of 1,699.4 billion yen (increased 45.1 billion yen). The
Overseas Economic Cooperation Account had total assets of 11,200.9 billion yen (increased 19.2 billion yen),
total liabilities of 4,410.8 billion yen (decreased 245.9 billion yen), and total capital and reserves of 6,790.1
billion yen (increased 265.1 billion yen). Overall, the Bank had total assets of 21,344.3 billion yen (decreased537.4 billion yen), total liabilities of 12,854.7 billion yen (decreased 847.7 billion yen), and total capital andreserves of 8,489.6 billion yen (increased 310.2 billion yen). The capital and reserves to total assets ratio for FY
2003 was 16.8% for the International Financial Account and 60.6% for the Overseas Economic Cooperation
Account, resulting in the maintenance of the high level of 39.8% for the Bank.

12. Changes in Net Earnings(Unit: JPY 100 million)
FY2002△1,996The BankInternational Financial Account
Overseas Economic Cooperation Account

Increase△Decrease
FY2003 - FY2002

FY2003

1,402754648605△2,6013,3971493,249

3. Statement of Earnings
International Financial Account(Unit: JPY 100 million)
FY2002

Increase△Decrease
FY2003-FY2002

FY2003

Ordinary Interest on Loans
Income Interest on Loans in Japanese Yen
Interest on Loans in Foreign Currency
Guarantee Commissions
Interest on Swaps and Miscellaneous Interest Received
Interest on Deposits in Banks
Commissions
Foreign Exchange Gains
Other Income

2,859
1,565
1,29527494382429102,189
1229960
316271718824△ 671△ 336△ 3353134△ 21△6△ 2214Total
Ordinary Interest on Borrowings
Expenses Interest on Bonds and Notes
Interest on Swaps and Miscellaneous Interest Payment
Administrative Expenses
Depreciation of Premises and Equipment
Loss from Disposal of Investments
Foreign Exchange Losses
Write-off of Loans
Amortization of Deferred Accounts
Commissions
Other Expenses

3,481
1,612
543
293
154
11413
1733
12,913
1,233
424
238
153
1011512415369△ 568△ 380△ 119△ 55△2△1111020△239TotalNet Earnings prior to provision for Allowance for Possible Loanand Investment Losses
Reversal of Allowance for Possible Loan and Investment Losses
Provision of Allowance for Possible Loan and Investment Losses
Net Earnings

2,710772

2,204710△ 506△ 62529486754167△ 44149*1363529
605*2293 (3/1,000 of the loan balance. Article 15, No. 1 of the regulationof Ministry of Finance)
42 (300/1,000 of the debts defined in Article 15, No. 2 of theregulation of Ministry of Finance)
194 (Full amount of the debts defined in Article 15, No. 3, No. 4 orNo. 5 of the regulation of Ministry of Finance)
273 (3/1,000 of the loan balance. Article 15, No. 1 of the regulationof Ministry of Finance)
42 (300/1,000 of the debts defined in Article 15, No. 2 of theregulation of Ministry of Finance)
171 (Full amount of the debts defined in Article 15, No. 3, No. 4 or
No. 5 of the regulation of Ministry of Finance)

Allowance for Possible Loan Losses:
Specific Allowance for Possible Loan Losses:*2*1

Allowance for Possible Loan Losses:
Specific Allowance for Possible Loan Losses:

2

Overseas Economic Cooperation Account
FY2002

Ordinary
IncomeOrdinaryExpenses

FY2003(Unit: JPY 100 million)
Increase△Decrease
FY2003 - FY2002

Interest on Loans
Dividends on Investments
Grant from General AccountInterest on Deposits in Banks
Commissions
Foreign Exchange Gains
Other Income

2,555
2606032,690
23300
066135△3300△00△02TotalInterest on Borrowings
Interest on Bonds and Notes
Administrative Expenses
Depreciation of Premises and Equipment
Amortization of Deferred Accounts
Commissions
Foreign Exchange Losses
Loss from Disposal of Investments
Write-off of Loans
Other Expenses

2,590
1,394793402003

3,026
1,211
792
402241,031
7435
△183
△1△02△041,031
41,522
1,068

2,379
647857△421Total
Net Earnings prior to provision for Allowances for Possible
Loan and Investment Losses

3,669
351
4,020
Reversal of Allowance for Possible Loan and Investment Losses△1Provision of Allowance for Possible Loan and Investment
*3
4,020
*4
4,018
3,249
Net Earnings (△Net Loss)△2,601648
11 (0.1/1,000 of the loan balance. Article 16, No. 1 of the regulation*3Allowance for Possible Loan Losses (ODA loans):of Ministry of Finance)
Allowance for Possible Loan Losses (Private-sector
2 (30/1,000 of the loan balance. Article 16, No. 1 of the regulationInvestment Finance):of Ministry of Finance)
Specific Allowance for Possible Loan Losses:
3,658 (Full amount of the debts defined in Article 16, No. 3 of theregulation of Ministry of Finance)
348 (In proportion to the ratio of accumulated losses of each invested
Allowance for Possible Investment Losses:
firm/fund to the total capital hereof. Article 16, No. 2 of theregulation of Ministry of Finance)
11 (0.1/1,000 of the loan balance. Article 16, No. 1 of the regulation*4
Allowance for Possible Loan Losses (ODA loans):of Ministry of Finance)
2 (30/1,000 of the loan balance. Article 16, No. 1 of the regulation
Allowance for Possible Loan Losses (Private-sectorof Ministry of Finance)
Investment Finance):
3,658 (Full amount of the debts defined in Article 16, No. 3 of theSpecific Allowance for Possible Loan Losses:
regulation of Ministry of Finance)
Allowance for Possible Investment Losses:
347 (In proportion to the ratio of accumulated losses of each invested
firm/fund to the total capital hereof. Article 16, No. 2 of theregulation of Ministry of Finance)34. Balance Sheets
International Financial Accountnit: JPY 100 million)
FY 2002

Increase△Decrease

FY 2003

FY2003 - FY2002
Loans
Loans in Japanese Yen
Loans in Foreign Currency
Investments
Cash and Cash Equivalents
Accrued Interest Incomes
Miscellaneous Assets
Premises and Equipment
Deferred Charges
Customer’s liabilities for Acceptance andGuarantee
Allowance for Possible Loan and Investment
Losses97,60747,781
49,826112,287926
158
208
28
6,305

90,87042,81848,051
1,852
689
820
202
297,457△6,737△4,963△1,775△11△435△237663△511,152

△529

△486

44

TotalLiabilities, Long-term Borrowings
Capital & Bonds and Notes, including Borrowings Due
Reserves within One YearAccrued Interest Expenses
Miscellaneous Liabilities
Acceptances and Guarantee(Total liabilities)
CapitalReserves
Net Earnings(Total capital and reserves)

107,000
66,07016,433

101,434
60,27016,163△5,566△5,799△270593
1,057
6,305
90,457
9,855
6,083
605
16,543511
38
7,457
84,440
9,855
6,386
754
16,994△82△1,0191,152△6,017302
149
451

107,000

101,434△5,566Assets

Total

Overseas Economic Cooperation Accountnit: JPY 100 million)
FY 2002

FY 2003

Increase△Decrease
FY2003 - FY2002

Loans
ODA Loans
Private-Sector Investment Finance
Investments
Cash and Cash Equivalents
Accrued Interest Income
Miscellaneous Assets
Premises and Equipment
Deferred Charges
Allowance for Possible Loan and Investment
Losses112,341
112,265
76
1,541
595
1,280
673
0

113,257
113,198
58
1,533
347
813
6720916933△18△8△249△4670△1△0△4,020△4,018△1

TotalLiabilities, Long-term Borrowings including Borrowings
Capital & Due within One Year
Reserves Bonds and Notes
Accrued Interest Expenses
Miscellaneous Liabilities(Total liabilities)
CapitalReserves
Net Earnings (△Net Loss)(Total capital and reserves)

111,817

112,009

192

46,11743,659△2,458250
177
23
46,56765,043
2,807△ 2,601
65,250250
172
2744,10867,046207
648
67,901△54△2,4592,003△2,601
3,249
2,651

111,817

112,009

192

AssetsTotal4

The Bank AccountLoansInvestments
Cash and Cash Equivalents
Accrued Interest Income
Miscellaneous Assets
Premises and Equipment
Deferred Charges
Customer’s Liabilities for Acceptance and Guarantee
Allowance for Possible Loan and Investment Losses

209,948
1,553
2,882
2,206
163
281
29
6,305
△4,549204,126
1,533
2,199
1,501
826
274
29
7,457
△4,504

Increase△Decrease
FY2003 - FY2002△5,822△19△684△704663△61
1,152△45Total
Liabilities, Long-term Borrowings
Capital & Bonds and Notes, including Borrowings Due within
Reserves One YearAccrued Interest Expenses
Miscellaneous Liabilities
Acceptances and Guarantees(Total liabilities)
Capital of the International Financial Account
Capital of the Overseas Economic Cooperation
Reserve of the International Financial Account
Net Earnings of the International Financial AccountReserve of the Overseas Economic Cooperation
Net Earnings of the Overseas Economic Cooperation
Account(Total capital and reserves)

218,817
112,187
16,683

213,443
103,929
16,413△5,374△8,258
△270

769
1,080
6,305
137,024
9,855
65,043
6,083
605
2,807
△2,601

683
65
7,457
128,547
9,855
67,0466,386
754
207648△86△1,015
1,152△8,4772,003
302
149△2,601
3,249

81,79384,896

3,102

218,817

213,443△5,374

FY 2002
AssetsTotalFY 2002
International Financial AccountTotal Assets
Total Capital and Reserves
Total Capital and Reserves / Total Assets
Overseas Economic Cooperation AccountTotal Assets
Total Capital and Reserves
Total Capital and Reserves / Total Assets
The Bank
Total Assets
Total Capital and Reserves
Total Capital and Reserves / Total Assets

5FY 2003

FY 2003

Increase△Decrease
FY2003 - FY2002

107,000
16,54315.46%

101,434
16,99416.75%△5,566451
1.29%

111,81765,25058.35%

112,009
67,90160.62%

2,651
2.27%

218,817
81,79337.38%

213,443
84,89639.77%

192△5,3743,102
2.39%

6. Loans Past Due**(Note)“Loans Past Due” are loans which are placed on non-accrual status if they are past due for more than six months.

International Financial Account(Unit: JPY 100 million)
FY 2002 (A)FY 2003 (B)(B)-(A)

740
1,133
1,874
Loans Past Due - 1△6,737Loans - 2
97,60790,8700.9%
1 / 2 (%)
1. 16%
2.06%(Note)The loans excluded from the "Loans Past Due" due to debt relief agreement established in Paris Club were 342 billion
yen and 11.2 billion yen as of the end of FY 2002 and FY 2003, respectively. The loans excluded from the "Loans PastDue" due to the decision to waive by Japanese government was 1.5 billion yen as of the end of FY2003.

Overseas Economic Cooperation Account(Unit: JPY 100 million)
FY 2002 (A)FY 2003 (B)(B)-(A)

△277
3,872
3,595
Loans Past Due - 1916
Loans - 2
112,341
113,257△0.27%
1 / 2 (%)
3.45%
3.17%
(Note)The loans excluded from the "Loans Past Due" due to debt relief agreement established in Paris Club were 1,550
billion yen and 21.2 billion yen as of the end of FY 2002 and FY 2003, respectively. The loans excluded from the "Loans
Past Due" due to the decision to waive by Japanese government was 208.7 billion yen as of the end of FY2003.

6